PHP 7 is a brand-new version release, arriving a decade after PHP 5. Expected release is before the end of the year. There are a lot of features that will give a new edge to the programming world.
This year, on Oct 15, 2015, PHP7 RC5 is released giving a good news to the PHP Developers. PHP 7 is under development phase, so it's advisable not to use it for development environment till the final version is out in November. However, it is open to play with it and do our own R&D with it.